Accounting Expertise for Professional Service Firms
As an owner or manager of a professional service firm, you likely spend more time than you would like worrying about financial issues like cash flow management and how to minimize your taxes.
The professional services team at Bennett Thrasher can help alleviate those worries and provide you with the sound financial consulting you need to succeed. Our professionals serve the accounting, tax and advisory needs of medical practices, dental practices, law firms, real estate firms, consulting firms, architectural firms, marketing and advertising firms, captive insurance companies, private equity firms and hedge fund managers. We know how to successfully manage and account for growth, so you can feel confident that your financial bases are covered, leaving you with more time to focus on what you do best.
Our experienced CPAs and consultants draw on a deep understanding of the issues and challenges of managing a professional service firm to provide a full scope of services, including:
- Personal and corporate tax planning and consulting, including multistate planning
- Financial statement audits, reviews and compilations
- Identifying state and local tax (SALT) exposure and managing tax reporting
- Resolving federal, state and local tax controversies, including IRS audits and appeals
Bennett Thrasher works with your team to provide targeted business consulting to clear roadblocks and help you achieve your goals. Our professional service firm consulting services include:
- Practice management consulting, from cash flow management and projections to overhead allocation analysis
- Reviewing and consulting on the tax impact of partnership agreements and changes in ownership/partnership
- Accounting and finance outsourcing, from back-office accounting and month-end close support to a fully outsourced CFO
- Planful and Sage Intacct solutions for practice management
- Transaction advisory services, including business valuations and structuring mergers and acquisitions
- Benchmarking of valuation multiples, overhead expenses, revenue per partner or physician and other key performance indicators
- Providing insight and best practices to improve efficiency and effectiveness of accounting policies and procedures
We strive to stay apprised of developments in your practice so we can identify opportunities to improve profitability and grow your firm. That’s why our clients regularly turn to us as a sounding board for major business decisions.